Stevens & Bolton LLP has advised the shareholders of Staffcare Limited ("Staffcare") on its sale to Simply Biz Limited ("Simply Biz").
Staffcare provides software and support to power ‘Flexible Benefits’ and ‘Auto Enrolment’ solutions to many of the UK’s largest Employee Benefit Consultants. Simply Biz provides comprehensive compliance and business support to over 5,000 financial advisers throughout the UK. Simply Biz has acquired approximately 80% of the shares in Staffcare with Founder and CEO, Phil Hollingdale and Head of Global Business and Workplace Savings, Graham Jarvis, retaining the balance. Phil and Graham will continue to drive the business forward with increased backing from Simply Biz.
Commenting on the Stevens & Bolton LLP team, Phil Hollingdale said "I have enjoyed a long term relationship with Stevens & Bolton spanning 8 years. We worked together when I sold a previous software business, in the early days of Staffcare when we raised venture capital investment and when we subsequently sold off part of the business to a management team. This transaction was much more complicated due to its size and the number of investors. After a market review I chose to appoint Stevens & Bolton again as I knew that I could rely on them to do a thorough and professional job in the best interest of all of my shareholders and to allocate the appropriate resource and time to support us throughout the process. Importantly for me, James Waddell was fronting the deal with a strong team behind him. Having worked together before James has a good understanding of what level of detail I need and when to get me involved. I would have no hesitation in recommending Stevens & Bolton and I will use them again."
The Stevens & Bolton LLP team was led by corporate partner James Waddell, supported by Oscar Horwich (corporate), Kate Schmit (tax), Jonathan Foulds (real estate) and Adam Landy (employment).
Commenting on the deal, James Waddell said:
“It has been great to work with Phil and the Staffcare team again. We are extremely proud of our long association with Staffcare and we are delighted to have been able to help achieve this important deal for both parties – providing a great exit opportunity for Staffcare’s existing investors and an excellent partner for the future development of the Staffcare business.”